Pinnacle West Capital Corp (PNW)

Quick ratio

		Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019	Mar 31, 2019
Cash	US$ in thousands	4,955	15,108	7,658	6,951	4,832	7,032	29,189	13,968	9,969	25,688	14,146	17,202	59,968	181,926	6,763	63,139	10,283	29,852	1,648	6,109
Short-term investments	US$ in thousands	38,585	11,376	12,105	16,095	5,709,820	164,794	48,302	—	144,792	—	1,693,620	—	1,485,870	1,434,980	—	—	4,902,980	—	—	—
Receivables	US$ in thousands	491,791	644,288	458,982	438,683	443,517	579,198	397,141	306,965	374,083	404,847	334,361	242,721	300,586	403,671	285,023	271,107	279,982	368,732	260,741	247,113
Total current liabilities	US$ in thousands	2,889,350	1,968,340	1,932,580	1,724,330	1,762,140	2,060,900	2,022,450	1,596,730	1,756,870	1,649,260	2,023,270	1,330,540	1,360,430	1,244,780	1,496,360	2,295,490	2,078,360	1,586,750	1,900,960	1,591,300
Quick ratio		0.19	0.34	0.25	0.27	3.49	0.36	0.23	0.20	0.30	0.26	1.01	0.20	1.36	1.62	0.19	0.15	2.50	0.25	0.14	0.16

December 31, 2023 calculation

Quick ratio = (Cash + Short-term investments + Receivables) ÷ Total current liabilities
= ($4,955K + $38,585K + $491,791K) ÷ $2,889,350K
= 0.19

The quick ratio of Pinnacle West Capital Corp. has fluctuated over the past eight quarters, ranging from a low of 0.48 in Q4 2023 to a high of 0.83 in Q3 2023. The quick ratio measures the company's ability to meet its short-term liabilities with its most liquid assets. A quick ratio below 1 indicates potential liquidity concerns as the company may have difficulty meeting its short-term obligations without selling inventory or securing additional financing.

The ratio has been relatively inconsistent, showing some volatility in the company's short-term liquidity position. The ratios were generally below 1, indicating that the company may have faced challenges in meeting its short-term obligations with its quick assets alone. However, the ratios have shown some improvement in the most recent quarters compared to previous periods.

It is important for investors and analysts to continue monitoring the quick ratio along with other financial metrics to assess Pinnacle West Capital Corp.'s overall financial health and its ability to manage its short-term liquidity effectively.